Grows North American Rental Fleet to Nearly 30,000, Providing Customers with Access to an Unmatched Choice of Vehicles, Including New Lower Emission EPA ’10 Compliant Engine Technologies
Ryder System, Inc. (NYSE: R), a leader in commercial truck rental,
leasing and transportation solutions, announced that it is expanding and
refreshing its North American rental
fleet with 6,700 new trucks, tractors, trailers, and vans to meet
accelerating demand as the economy continues to rebound. The new
vehicles, which represent multiple classes of tractors, trailers,
refrigerated equipment, box trucks, and light-duty vans, will expand
Ryder’s commercial rental fleet and replace older model vehicles that
are being retired.
The 2011 refresh adds to the recent infusion of 4,900 new vehicles
introduced in 2010 to accommodate anticipated economic growth. Together,
the nearly 12,000 new vehicles raise the percentage of model-year-2010
or newer vehicles in the fleet to more than 40 percent and the total
fleet count to nearly 30,000. With the recent fleet expansion, the Ryder
rental fleet is one of the largest in the industry and is proactively
positioned to address growing demand as Ryder’s North American customers
require increased capacity.
“This investment represents the second phase of a fleet refresh we
launched last year in anticipation of increased demand from both rental
and lease customers requiring supplemental capacity in a recovering
economy,” said Mark Cicchini, Vice President of Rental for Ryder. “With
this purchase, we can ensure that we continue to respond to our North
American customers’ diverse requirements with a positive Ryder
experience.”
To determine the scope and breadth of the vehicle order, Ryder examined
utilization and market trends across its customer base. “Last year we
identified increasing demand across all classes of vehicles – light-duty
vans and trucks, medium-duty trucks, heavy-duty day cabs and sleeper
tractors and dry, refrigerated, and flatbed trailers. This year, we’re
seeing even more of an uptick in demand,” Cicchini continued.
“Together, the 2010 and 2011 fleet expansions will provide our customers
with greater availability of all classes, including Ryder’s Light Duty
MetroVan™. We’ve also added more refrigerated equipment to help our
customers comply with recent FDA Food Safety Modernization legislation
and more environmentally-friendly emissions standards in certain
regions.”
All of the model-year-2010 or newer vehicles comply with the latest EPA
2010 emissions standards – underscoring Ryder’s commitment to providing
customers with access to clean, high-quality, road-ready trucks that
increasingly help them to meet their own objectives for reducing
emissions and minimizing environmental impact.
Ryder has already begun integrating the new equipment into its fleet and
will continue to roll out new vehicles through April of this year. As
vehicles are retired from Ryder’s rental fleet, they will become part of
the Company’s used vehicle inventory. Extending the useful life of
retired vehicles by moving them into Ryder’s used
vehicle inventory increases the availability of newer, highly
maintained Ryder Road Ready™ vehicles available for sale.
Ryder serves customers with more than 500 convenient rental locations
across the U.S. and Canada, staffed with a dedicated team of
knowledgeable rental agents, and stocked with an inventory of close to
30,000 recent-model vehicles. All rental vehicles are backed by Ryder’s
Rental Service Guarantee. To rent a truck, call 1-800-BY-RYDER or visit www.ryder.com.
To access and search Ryder’s inventory of used vehicles, visit www.usedtrucks.ryder.com.
About Ryder
Ryder is a FORTUNE 500® commercial transportation, logistics and supply
chain management solutions company. Ryder’s stock (NYSE: R) is a
component of the Dow Jones Transportation Average and the Standard &
Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder
as the top third party logistics provider and Security magazine
has named Ryder one of the top companies for security practices in the
transportation, logistics, supply chain, and warehousing sector. Ryder
is a proud member of the American Red Cross Annual Disaster Giving
Program, supporting national and local disaster preparedness and
response efforts. For more information on Ryder System, Inc., visit www.ryder.com.
Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are "forward-looking
statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995, including, without limitation, statements
concerning the terms and timing of the acquisition and statements
concerning integration, customers and services. These
forward-looking statements are based on our current plans and
expectations and are subject to risks, uncertainties and assumptions.
Accordingly, these forward-looking statements should be evaluated
with consideration given to the many risks and uncertainties that could
cause actual results and events to differ materially from those in the
forward-looking statements including those risks set forth in our
periodic filings with the Securities and Exchange Commission. New
risks emerge from time to time. It is not possible for management
to predict all such risk factors or to assess the impact of such risks
on our business. Accordingly, we undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
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Ryder System, Inc.
Cindy Haas, 305-500-4526
Cindy_Haas@Ryder.com
or
Lisa Hagen, 305-500-3668
Lisa_Hagen@Ryder.com